Budget is absolutely nothing but a declaration of expenditure and income. Relating to Article 112 of this Constitution, “the Union advance financial Government lays a statement of their predicted receipts and expenditure for the from April 1 to March 31, before both the Houses of Parliament” year.
The word spending plan comes from the old word that is french which means that bag. It really is a quantified economic plan for current, past and future revenue and spending for the Central Government.
50 GK Questions on Union Budget & Economic Survey
1. Which associated with the statement that is following proper about Budget?
We. It really is a declaration of budget for a period that is future aiming proposed expenditure and way of funding it.
II. Article 111 regarding the Constitution requires the federal government presenting to Parliament a declaration of believed receipts and spending according of any year that is financial. Read more